Indonesian Legal Framework of the Misuses of Financial Technology as A Means of Child Sexual Exploitation Amidst the Innovation of Cryptocurrency

DOI

10.2991/978-2-38476-325-2_8How to use a DOI?

Keywords

Financial Technology; Child; Sexual; Exploitation; Cryptocurrency

Abstract

In the current era of financial technology (fintech) development, the misuse of financial service providers for transactions involving sexual exploitation becomes a new challenge. The illicit activities related to child sexual exploitation may involve buying, selling, or trading children’s sexual services, as well as live streaming child sexual abuse. Offenders might exploit the pseudonymity and decentralization of blockchain and cryptocurrency to facilitate that crime. This is normative legal research involving a library study of the primary, secondary, and tertiary legal sources. This article examines Indonesian legal framework concerning the misuse of fintech as a means to child sexual exploitation. This paper will also elaborate on the potential challenges and strategies for preventing the misuse of financial technology for child sexual exploitation amidst the development of cryptocurrency. The paper identifies key regulatory gaps and explores strategies to address these challenges, including mandatory Know Your Customer (KYC) procedures, Anti-Money Laundering (AML) compliance, and enhanced blockchain forensic tools. A strengthened legal framework that balances the protection of vulnerable children with the benefits of financial innovation is required nowadays. Without robust regulatory measures, cryptocurrency’s potential for misuse will continue to pose a significant threat to child protection efforts.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Uni Tsulasi Putri
PY  - 2024
DA  - 2024/12/19
TI  - Indonesian Legal Framework of the Misuses of Financial Technology as A Means of Child Sexual Exploitation Amidst the Innovation of Cryptocurrency
BT  - Proceedings of the ASEAN Conference on Sexual Exploitation of Children (ACOSEC 2024)
PB  - Atlantis Press
SP  - 66
EP  - 73
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-325-2_8
DO  - 10.2991/978-2-38476-325-2_8
ID  - Putri2024
ER  -